|Title||To remove difficulties in implementing provisions of composition scheme.|
Whereas, certain difficulties have arisen in giving effect to the provisions of the Central Goods and Services Tax Act, 2017 (12 of 2017), hereinafter in this order referred to as the said Act, in so far as it relates to the provisions of section 10 of the said Act;
Now, therefore, in exercise of the powers conferred by section 172 of the said Act, the Central Government, on recommendations of the Council, hereby makes the following Order, namely:-
This Order may be called the Central Goods and Services Tax (Removal of Difficulties) Order, 2017.
For the removal of difficulties,-
(i) it is hereby clarifiedthat if a person supplies goods and/or services referred to in clause (b) of paragraph 6 of Schedule II of the said Actand also supplies any exempt services including services by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount, the said personshall not be ineligible for the composition scheme under section 10 subject to the fulfilment of all other conditions specified therein.
(ii) it is further clarified that in computing his aggregate turnover in order to determine his eligibility for composition scheme, value of supply of any exempt services including services by way of extending deposits, loans or advances in so far as the consideration is represented by way of interest or discount, shall not be taken into account.